Nigeria’s total debt stands at N24.9t — DMO
Nigeria’s total debt as at March 31, 2019 stands at N24.947 trillion, the Debt Management Office has revealed. The figures were released by the Debt Management Office(DMO)Wednesday.
It said: “The Total Public Debt grew marginally by 2.30% when compared to the figure of N24.387 Trillion (US$ 79.437 Billion) as at December 31, 2018.”
The increase of N560.009 billion in the Total Public Debt in Q1 2019, the DMO said, “was accounted for largely by Domestic Debt which grew by N458.363 Billion.”
The Increases, according to the DMO added were recorded “in the Domestic Debt Stock of the FGN, States and the FCT.”
External Debt also increased by N101.646 Billion during the same period.
The nation’s apex debt manager also stated that “in relation to the Debt Management Strategy, the Ratio of Domestic to External Debt stood at 68.49% to 31.51% at the end of March 2019.”
The DMO assured that the Total Public Debt to GDP Ratio stood at 19.03% is within the 25 per cent Debt Limit imposed by the Government.